MIAMI – Aeromexico (AM) and Air Lease Corporation (ALC) have signed a letter of intent to enter into new long-term aircraft lease agreements. The filing must still be approved by the US Bankruptcy Court.
Grupo Aeromexico filed a new motion with the United States Bankruptcy Court on September 17, 2021, requesting authorization to enter into new lease arrangements. As part of its Chapter 11 plan, Aeromexico aims to add six aircraft to its fleet.
The lease agreement includes four new Boeing 737 MAX and two Boeing 787 Dreamliner aircraft on a power-by-the-hour basis rather than a fixed monthly fee, according to an AM release. The Mexican airline would get these planes in the first half of 2022, just in time for the summer season.
Aeromexico has been in talks with existing and potential lessors of additional aircraft and equipment for the past few months. It wants the best conditions possible because the carrier is currently lowering its cost base in order to perform better in the Mexican domestic market. Volaris and Viva Aerobus, two low-cost carriers, have taken market share from AM.
Current Aeromexico Orders, Fleet
Aeromexico had placed an order with Boeing for 60 Boeing 737 MAX aircraft before the COVID-19 outbreak and the Boeing 737 MAX problem, having already received six of the type.
Aeromexico renegotiated with Boeing and lowered the remaining order to 54 MAX units due to the impact of the pandemic on the industry. Finally, the two sides agreed to add 28 new planes to AM’s fleet, including 20 new MAXs, four Boeing 737-800s, and four Dreamliners.
In addition, Aeromexico noted, “In mid-June 2021, the Debtors finalized the current version of their Operating Fleet Plan, which, among other things, adjusted the composition of the Debtors’ long-term operating fleet, including through a combination of substitutions and additions of over a dozen Boeing 737 MAX aircraft, four of which are the subject of this Motion.”
Then, on August 30, AM received court authority to purchase 12 Boeing MAX aircraft. The airline will lease these planes from Dubai Aerospace Enterprise, with the first delivery scheduled for October.
As a result, since filing for Chapter 11, AM has placed 40 fresh orders. It has yet to receive 12 aircraft from Boeing (according to Boeing’s orders and delivery), 12 aircraft from Dubai Aerospace Enterprise, and these six aircraft from ALC.
According to airinsight.com, as of June 2021, the airline has 18 Boeing 787, five Boeing 737-700, 34 Boeing 737-800, ten Boeing 737-8 and four Boeing 737-9 from the MAX series, and 47 Embraer E190.
Featured image: Aeromexico Boeing 737 MAX. Photo: Aeromexico. Article source: airinsight.com